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Research Report

29/06/2020 17:55

CMBIS lifts China Gas (00384) to HK$37.12

[ET Net News Agency, 29 June 2020] CMB International Securities lifted its target price
for China Gas Holdings (CGH)(00384) to HK$37.12 from HK$33.37 and maintained its "buy"
The research house said CGH's FY2020 earnings of HK$9,188mn (up 11.7%) was in line with
its estimates. This set of results revealed that CGH suffered quite severe impacts in 1Q,
especially from C&I gas sales volume, township project ignitions and value-added services.
Cash flow and balance sheet improvement were also slower than expected pace.
CMBIS thinks the results were commendable, however, as CGH still delivered 16.2% core
earnings growth in the context of losing two months operating time. (KL)

Remark: Real time quote last updated: 07/08/2020 17:58
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